Skanda Aerospace to invest Rs.250 crores in Hyderabad
Raghu Vamsi Machine Tools & Rave Gears LLC form JV
City Air News
May 12, 2022 05:37
0
Hyderabad, May 12, 2022: Skanda Aerospace Technology Private Limited (SATPL) plans to invest Rs. 250 crores to set up a facility at Hyderabad. SATPL is the joint venture between Raghu Vamsi Machine Tools (RMVT) and Rave Gears, LLC, Texas USA and their production facility becomes the first private company having capability to manufacture Helicopter Gears and Gear Boxes in India.
The joint venture (SATPL) will have 55% holding by Rave Gears while RVMT & Investors hold 45%. The JV company will invest Rs. 250 Cr and provide employment for 1000 in the next 3 to 5 years.
Rave Gears have also committed to provide annual orders to the tune of $9M to Skanda Aerospace.
Located at Texas, USA - Rave Gears LLC is a designer, manufacturer and system integrator of gears and precision drive trains catering to Aerospace, Defence, Automotive and industrial customers worldwide. Rave Gears supplies to major OEMs like Boeing, Bell, Collins, BAE Systems, Rolls Royce, Mclaren, Nascar etc.
Raghu Vamsi Machine Tools is a leading supplier of High Precision Products and subassemblies to leading OEMs such as Boeing, GE Aviation, Eaton, Honeywell etc.
